BYDFi

Overview of BYDFi

BYDFi is a cryptocurrency exchange that was founded in 2017. It is headquartered in Hong Kong and is regulated by MTR. BYDFi offers a wide range of features, including spot trading, margin trading, derivatives trading, and staking. It also supports a wide range of cryptocurrencies, including Bitcoin, Ethereum, Tether, and Litecoin. BYDFi's expansive list of over 400 supported cryptocurrencies includes major players like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT), along with a vast array of altcoins and emerging tokens.

BYDFi's user-friendly interface and competitive fees further enhance its appeal, making it a suitable choice for both novice and experienced traders. BYDFi's commitment to regulatory compliance and its focus on user security position it as a reputable and trustworthy platform within the cryptocurrency landscape. Its global reach and diverse offerings make it an attractive option for traders seeking a comprehensive and secure trading experience.

Pros and Cons

Regulatory Authorities

BYDFi is dedicated to upholding compliance with financial regulations and ensuring a secure trading environment for its users. The platform is regulated by several authorities, each overseeing specific aspects of its operations.

MTR (Nationwide Multistate Licensing System): BYDFi holds a Digital Currency License issued by MTR with Regulation Number 1905429. This license ensures that BYDFi operates in accordance with required financial standards and guidelines.

MTR Regulated: This designation confirms that BYDFi is regulated by MTR, ensuring adherence to financial regulations and providing users with added trust and security.

MAS (Monetary Authority of Singapore) - License Number: 201938576H: BYDFi is regulated by the Monetary Authority of Singapore (MAS) and holds a valid license with License Number 201938576H. However, it is important to note that BYDFi has exceeded the scope of their company registration beyond what is permitted by this license.

FinCEN (Financial Crimes Enforcement Network) - License Number: 31000157825533: BYDFi is regulated by FinCEN and holds a valid MSB License with License Number 31000157825533. Nonetheless, it should be noted that BYDFi has expanded its business activities beyond the scope allowed by this license.

Security

BYDFi prioritizes strong security measures to protect users' assets and ensure a safe trading environment. Key security features include:

Choose your country/region and enter your mobile number.

Click “Send” to receive the verification code via SMS.

Enter the SMS code received.

Set up your password.

Optionally, enter an invitation code.

Click “Get Started” to finalize the registration.

Bitcoin

Ethereum

Tether

Litecoin

Bitcoin Cash

XRP

EOS

Stellar

Cardano

Two-Factor Authentication (2FA) with Google Authenticator for added account security.

Wallet Security with offline deep cold storage to minimize risk and multi-signature technology for enhanced protection.

Engine Security utilizing advanced kdb+ language programming and microservices development to achieve high-speed and stable trading.

System Security with Amazon Web Services (AWS), multiple identity verifications, hardware authentication, SSL encryption, and regular IT security audits.

Cryptocurrencies Available

BYDFi supports a wide range of cryptocurrencies, including:

and more

Services

BYDFi offers a comprehensive suite of services catering to both individual traders and businesses:

Buy Crypto: Easily purchase a wide range of cryptocurrencies using various fiat currencies, including USD, EUR, and SGD.

Affiliate Program: Earn rewards by referring new users to the BYDFi platform and sharing your trading experience.

Listing Application: Submit an application to have your cryptocurrency listed on the BYDFi exchange, gaining exposure to a vast global user base.

API: Access real-time market data and trading functionalities through BYDFi's powerful API, enabling the development of customized trading tools and applications.

Collaboration: Explore partnership opportunities with BYDFi to leverage its expertise and reach, expanding your business horizons within the cryptocurrency ecosystem.

Block Explorers: Utilize BYDFi's integrated block explorers to track transactions and verify the integrity of the blockchain network.

Sitemap: Navigate seamlessly through BYDFi's website with the comprehensive sitemap, ensuring easy access to all available resources and services.

Status: Monitor the real-time status of BYDFi's services and infrastructure, ensuring optimal trading performance and uninterrupted access.

BYDFi APP

BYDFi app is a user-friendly and feature-rich mobile application that provides seamless access to BYDFi's comprehensive cryptocurrency trading platform. It empowers users to buy, sell, trade, and manage their digital assets from the convenience of their smartphones.

To download the BYDFi app, follow these simple steps:

Visit the BYDFi website or app store on your iOS or Android device.

Search for “BYDFi” and select the official BYDFi app.

Click on the “Download” or “Get” button to initiate the installation process.

Once the app is installed, launch it and follow the on-screen instructions to create an account or log in to your existing BYDFi account.

Start exploring the app's intuitive interface and discover a world of cryptocurrency trading possibilities.

How to Open an Account？

To open an account on BYDFi using a PC, follow these steps:

Access BYDFi Website:

Locate “Get Started”:

Email Registration:

Follow these steps based on your preferred registration method to successfully open an account on BYDFi using your PC.

Mobile Registration:

How to Buy Cryptos？

Here are five steps on how to buy cryptos on BYDFi:

Open a BYDFi account for free:

Go to the BYDFi website or app and click on the “Sign Up” button.

Enter your email address or mobile number and create a strong password.

Click on the “Sign Up” button to create your account.

Keep your account safe:

Enable two-factor authentication (2FA) by linking your Google Authenticator app.

Set an anti-phishing code to protect yourself from phishing attacks.

Set a trading password to add an extra layer of security to your account.

Verify your account:

Go to the “Account Verification” page in your BYDFi account settings.

Enter your personal information, including your name, date of birth, and address.

Click on the “Submit” button to verify your account.

Add a payment method:

Once your BYDFi account is verified, you can add a payment method.

Buy cryptos:

Once your payment method is added, you can buy crypto.

Go to the “Buy Crypto” page and select BTC as the cryptocurrency you want to buy.

Fees

BYDFi maintains a transparent and competitive fee structure across its various trading products. The fee summary is as follows:

Enter your full email address.

Click “Send” to receive the verification code.

Retrieve the code from your email inbox or spam folder.

Enter the email verification code received.

Set up your password.

Optionally, enter an invitation code.

Click “Get Started” to complete the registration.

Find the “Get Started” option in the upper-right corner of the screen.

Open any available browser and go to https://www.BYDFi.com/.

Payment Methods

BYDFi provides its users with a diverse selection of payment methods to deposit funds and initiate trading activities. Users can conveniently fund their accounts using wallets, debit cards, ACH transfers, wire transfers, and a wide range of cryptocurrencies.

For withdrawal fees, they may vary based on the chosen method. However, BYDFi has not publicly disclosed specific fees related to wallet and cryptocurrency conversions at this time. Users are encouraged to refer to the platform's official website or contact customer support for the most up-to-date information regarding withdrawal fees and related transactions.

Here is an example of the fees charged by BYDFi for various cryptocurrencies:

USDT: TRC20 - Free; BEP20 (BSC) - 10; ERC20 - 15; MATIC - 55; SOL - 10.3

USDC: TRC20 - Free; BEP20 (BSC) - 10.3; ERC20 - 50; MATIC - 55; SOLANA - 10.3

BUSD: ERC20 - 55; BEP20 (BSC) - 50

BTC: BTC - Free; BEP20 (BSC) - 0.0012

ETH: ERC20 - Free; BEP20 (BSC) - 0.02

BCH: BCH - Free; BEP20 (BSC) - 0.02

And so on, the fees are listed for various cryptocurrencies.

BYDFi does not charge any deposit fees for any cryptocurrency.

For withdrawals, users need to pay a fixed fee for each transaction to cover the network transaction cost. The withdrawal fees vary depending on the cryptocurrency being withdrawn and the blockchain network it belongs to. The fees are as follows:

Is BYDFi a Good Exchange for You？

BYDFi is the best exchange for copy trading, offering a unique and user-friendly system that allows novice traders to replicate the strategies of experienced professionals. BYDFi's copy trading system is designed to simplify the trading process and potentially amplify profits for beginners who may not have the expertise or time to conduct in-depth market analysis. The platform's intuitive interface and comprehensive risk management tools make it an ideal choice for traders of all experience levels seeking to explore the world of copy trading.

BYDFi's diverse target groups reflect its commitment to providing a comprehensive and accessible trading platform for users of all experience levels and interests.

Beginners:

BYDFi's user-friendly interface and comprehensive educational resources make it a great choice for beginners who are new to cryptocurrency trading.

Experienced Traders:

BYDFi's advanced trading features, such as derivatives trading and leveraged tokens, make it a great choice for experienced traders who are looking for a powerful and versatile platform.

Cryptocurrency Enthusiasts:

BYDFi's support for a wide variety of cryptocurrencies, including major cryptocurrencies, altcoins, and emerging tokens, makes it a great choice for cryptocurrency enthusiasts who are looking to explore the full range of the cryptocurrency market.